Styrenix Performance Materials Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2024
May 06, 2024 at 04:42 am
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Styrenix Performance Materials Limited reported earnings results for the fourth quarter and full year ended March 31, 2024. For the fourth quarter, the company reported sales was INR 5,987.1 million compared to INR 6,152.9 million a year ago. Revenue was INR 6,011 million compared to INR 6,182.6 million a year ago. Net income was INR 493.6 million compared to INR 424.3 million a year ago. Basic earnings per share from continuing operations was INR 28.07 compared to INR 24.13 a year ago. Diluted earnings per share from continuing operations was INR 28.07 compared to INR 24.13 a year ago.
For the full year, sales was INR 22,221.7 million compared to INR 23,722.7 million a year ago. Revenue was INR 22,314.3 million compared to INR 23,873.7 million a year ago. Net income was INR 1,731.7 million compared to INR 1,830.1 million a year ago. Basic earnings per share from continuing operations was INR 98.47 compared to INR 104.07 a year ago. Diluted earnings per share from continuing operations was INR 98.47 compared to INR 104.07 a year ago.
Styrenix Performance Materials Limited is an India-based company. The Company is a producer of Absolac (ABS). ABS is a plastic resin produced from Acrylonitrile, Butadiene & Styrene, used for manufacturing of home appliances, automobiles, consumer durables and business machines. The company is also a manufacturer of Polystyrene (PS) and ABSOLAN (SAN), which is a polymerized plastic resin produced from Styrene and Acrylonitrile, and mainly used for products, such as lightings, stationeries, novelties, refrigerators, and cosmetic packing. It is engaged in providing styrenic applications for various everyday products across a range of industries, including automotive, electronics, household, construction, healthcare, packaging, and toys/sports/leisure. Its products include Absolac ABS, Absolac High Heat ABS, Absolan SAN, GPPS, and HIPS. The Company operates its manufacturing facilities at Nandesari, Moxi, Katol and Dahej and research and development center at Moxi in Gujarat.